Bank of England raises interest rates to 5.25%

The Bank has hiked rates from 5% to 5.25%, marking the 14th increase in a row. We explain what it means for savers and homeowners - and whether more rate rises are on the horizon

Looking up at the Bank of England
(Image credit: Getty images)

The Bank of England has raised its base rate from 5% to 5.25% - its 14th consecutive hike as it continues to grapple with stubborn inflation.

Most economists had predicted the Monetary Policy Committee (MPC) would increase rates to 5.25%. It follows a much bigger jump in June, when rates went up from 4.5% to 5%.

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Ruth Emery
Contributing editor

Ruth is an award-winning financial journalist with more than 15 years' experience of working on national newspapers, websites and specialist magazines.

She is passionate about helping people feel more confident about their finances. She was previously editor of Times Money Mentor, and prior to that was deputy Money editor at The Sunday Times. 

A multi-award winning journalist, Ruth started her career on a pensions magazine at the FT Group, and has also worked at Money Observer and Money Advice Service. 

Outside of work, she is a mum to two young children, while also serving as a magistrate and an NHS volunteer.